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Search Results 0 to 14 of about 15 (some duplicates have been removed)
're with us, i'm jenna lee. jon: and i'm jon scott. new developments in the drama that grips capitol hill and the white house. dueling plans are out now on raising the limit to our nation's credit card and reducing the deficit. wendall goler, our senior foreign affairs correspondent, is live on the north lawn. wendall? >> reporter: jon, starting today house republicans will begin trying to sell their proposal to cut the deficit and raise the debt ceiling to democrats, and if they don't, democrats in the senate will then try and sell their plan to republicans. the chairman of the president's national economic council says mr. obama's address to the nation last night was a warning that democrats and republicans aren't even close. >> what the president was trying to do was let people know that we really are at a stalemate, that we have, that nothing is coming out of congress that is likely to pass be both houses and that this is a time where we as a country have to come together and have compromise and have bipartisanship. >> reporter: saturday was the last time the president and can congres
you. jon: we still have debt deadlock on capitol hill with the default deadline just eight days away now. congressional leaders are still struggling to hammer out some kind of a deal, one that would raise the limit on our nation's credit card while cutting trillions of dollars in spending. house speaker john boehner may unveil his own bill today. harry reid said it would be a nonstarter. wendell goler is live on the north lawn with more. >> reporter: speaker boehner's plan would take the spending cuts agreed to before talks with vice joe biden broke down and raise the debt ceiling a little less than that. it would satisfy the speakers bottom line which is cutting spending more than the debt ceiling is raids but we'd have to go through this all over again by the end of the year. the speaker said yesterday it would solve the immediate crisis. >> there is going to be a two-stage process. it's not physically possible to do all of this in one step. having said that, chris, i know the president is worried about his next election, but my god shouldn't we be worried about the country? >> rep
. it was believed they forged a partnership, but jon karl is in washington, and the speaker fired off a letter just before we came on the air tonight? >> reporter: that's right. the speaker and the president were on the verge of an historic deal that would have cut spending by $3.5 trillion, dealt with the debt crisis and raised that debt ceiling. now, the speaker has fired off this letter to all the members of the house, saying the deal, the talks are over. he says it has become evident that the white house is simply not serious about ending the spending binge. in the end, the speaker writes, we could not connect. i'm told this broke down over a disagreement over how much to raise tax revenues. >> and jon, you know it wasn't long after we learned that this letter was coming that the president said he was going to fire back then, too. here's what the president just said, we'll get your reaction herere >> we have run out of time and they are going to have to explain to me how it is that we are going to avoid default. and they can come up with any plans s at they want and bring them up here and we wi
hresh pro-b. [[[[ jon ] we don't just come up here for the view up in alaska. it's the cleanest, clearest water. we find the best, sweetest crab for red lobster we can find. yeah! [ male announcer ] hurry in to crabfest at red lobster. the only time you can savor three sweet alaskan crab entrees all under $20 like our hearty crabic seafood bake and roasted garlic seafood bake or snow crab and crab butter shrimp. [ jon ] i wouldn't put it on my table at home i wouldn't bring it in. my name's jon forsythe, and i sea food differently. [[[[ my whole body hurt. it was an ongoing, deep pain. i didn't understand it. i found out that connected to our muscles are nerves that send messages through the body. my doctor diagnosed it as fibromyalgia -- thought to be the result of overactive nerves that cause chronic, widespread pain. lyrica is believed to calm these nerves. i learned lyrica can provide significant relief from fibromyalgia pain. and less pain means, i can feel better and do more of what matters. [ female announcer ] lyrica is not for
bake or snow crab and crab butter shrimp. [ jon ] i wouldn't put it on my table at home, i wouldn't bring it in. my name's jon forsythe, and i sea food differently. >>> george, welcome. >> piers, i'm very excited to be here. >> how do you like being interviewed? as a man, you interview so many other people. >> i don't have a problem with it as much as some of the people i work with. i try to be honest. so i do. it's been interesting for me. i've exceeded my own expectations, seriously, of what i had planned out when i first started in the business. so it is all fun. >> don't you find as you get more famous and successful, being very honest and candid is problemattic? >> you're your own boss. you are in an enclosed area i try my best to curtail people using there cameras or video cameras some things are just meant for that particular room. it has chase someday very good comedians out of clubs. >> your stand-up routine has pushed boundaries. do you find constant conflict between those two roles? >> it is interesting. as a child growing up, and a lot of our great sitcom come from bri
security check riding on the outcome. abc's jon karl joins us now, from washington, with the latest. what about it? how close are we finally to a deal? >> reporter: getting close to a deal with the house speaker, john boehner. the outlines of this deal include up to $3 trillion in spending cuts over the next ten years including some cuts to popular entitlement programs like medicare and social security. also, elizabeth, it would include a promise or a commitment that congress would bring more money in through tax revenues by reforming the code, closing some of those loopholes. that's something that congress would act on over this last year. >> that last one, isn't that disguise? a tax increase in >> reporter: well, certainly some will call it that. the rates won't go up. congress would have to act over the next year. if they didn't ago, automatic steps would be taken that both sides wouldn't like which would be tax hikes and spending cuts. possibly, elizabeth, they're talking about repealing part of the health care bill. >> even if president obama and speaker boehner reach a deal they hav
congressional leaders are trying to reach a deal before the nation defaults on its loans. house speaker jon weiner may announce a plan by this afternoon to head off negative effects that could happen when the asian markets open on monday. now, he's seeking a deal to raise the debt ceiling and cut spending by equal amounts. top democrats, including president obama, say they will not support a proposal that does not solve the debt ceiling problem through 2012. >> everyone is going to have to be willing to compromise, otherwise, we will never get anything done. >> the american people have long since said it had to quit spending money we don't have. >> white house and congressional officials say that several proposals are still being discussed. >> well, that's certainly an ugly mess. a lot of people are frustrated over the deadlock. congressman pete stark addressed concerns during a town hall meeting in alameda and yesterday. one of the people came -- one of the biggest worries was what would happen to programs that congress can't hammer out? >> a lot of people living on social security and tha
markets. let's get a reality check from abc's countdown team. jake tapper at the white house. jon karl on capitol hill. bianna golodryga from the new york stock exchange. looking at the asian and european markets overnight, there seems to be concern but not panic yet, bianna. >> reporter: that's right. wall street seems to be patient with washington. markets opening blower. just about 130 points lower. not the knee jerk reaction that people were fearful of. things are still at an impasse. even though the markets aren't selling off, people are concerned about what's still on the table a credit downgrade. the s&p says the u.s. could lose its aaa ratings in the next three months. that would mean that interest rates go higher. it would be more difficult for people to get a loan out there. and it could be a big burden for this economy, as we're just starting to recover. george? >> jon, they had been hoping on capitol hill to come up with some sort of deal before the markets opened today. that has not happened. it seems, the only thing that everyone seems to be accepting th
seafood bake or snow crab and crab butter shrimp. [ jon ] i wouldn't put it on my table at home, i wouldn't bring it in. my name's jon forsythe, and i sea food differently. >>> in norway police began releasing the name of victims killed in the attack. the lawyer said his cloint was a little bit surprised he was able to carry off the bombing and shooting rampage that killed 76 people last friday. he also says he thinks his client is insane. >> this whole case indicates he's insane. he's in a war, says the rest of the world, especially the western world, don't understand his point of view but in 60 year's time we all will understand. >> the lawyer says it's too early to say if breivik will plead insanity. breivik's father speaking out saying he would have been better off if he killed himself. the father says he feels incredible grief or despair over what happened. he says he'll never have any contact with his son again. >>> it just may be the most egregious example to date of widespread corruption in average american taxpayer money, hundreds of millions of dollars ending up in the hands of
? >> jon, they had been hoping on capitol hill to come up with some sort of deal before the markets opened today. the only thing that everyone seems to be accepting that any deal won't include any new tax increase. >> that's the big deal. you have harry reid coming up with a plan for democrats. that he says includes $2.7 trillion in spending cuts over the next ten years and gives the president the debt ceiling increase that takes him all of the way to 2013. republicans are already saying that those -- his plan includes gimmicks and phantom cuts. so the republicans are coming up with their plan, which would include about $1 trillion in cuts now. it would require the president to come back to congress next year to ask for another debt ceiling increase. >> that's the huge sticking point for the white house. the president has made it clear time and time again that he won't sign a short-term increase. he squashed it at the meeting last night. >> republicans leaders have said that as well. they didn't want any short-term solution to this problem. they changed their tune on this. white house said
Search Results 0 to 14 of about 15 (some duplicates have been removed)